The Influence of Financial Distress and Intellectual Capital on Company Value with Company Size as a Moderating Variable in the Tourism and Recreation Industry

This study examines company value in the tourism and recreation industry in the post-pandemic period, where tourism recovery has not increased company value, which is related to financial distress and intellectual capital management. This study uses a quantitative approach. The population consisted of 47 companies, of which 10 were selected using purposive sampling. Data were analysed using panel data and moderated regression analysis with EViews 12. The results show that financial distress negatively affects company value, while intellectual capital has no effect. Company size strengthens the effect of financial distress and weakens intellectual capital. These findings indicate that financial distress remains the dominant factor influencing company value, and intellectual capital is not fully reflected